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European Union Directive on the Taxation of Savings Income - Returns of Information and Retention Tax 20 July 2006

The Income Tax Division of Treasury issued a Practice Note on 16 September 2005 (PN 118/05) that gave details of the operational aspects of the Savings Directive in the Isle of Man. The Practice Note can be viewed in the ‘Technical Information’ area of the Division’s website at http://www.gov.im/treasury/incometax/technical/practice.

All ‘paying agents’ should note that their returns of information and retention tax as covered in the Practice Note are due to be submitted to the Division no later than 5 August 2006.

M Couch

Assessor of Income Tax

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